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1 7 Which of the following statements is true? The budget variance for fixed manufacturing overhead is the difference between actual fixed manufacturing overhead costs

17
Which of the following statements is true?
The budget variance for fixed manufacturing overhead is the difference between actual fixed manufacturing overhead costs incurred and the amount of fixed manufacturing overhead applied to work in process.
In a standard costing system, if the actual fixed manufacturing overhead cost exceeds the budgeted fixed manufacturing overhead cost for the period, then fixed manufacturing overhead cost would be underapplied for the period.
There can be no volume variance for variable manufacturing overhead.
Multiple Choice
Only statement 2 is true.
Only statement 3 is true.
All of the statements are true.
None of the statements are true.
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